New Policy Proposals to Modify the NFIP Released as House Considers Bill to Reauthorize the Program

Recently, the Rockefeller Foundation’s 100 Resilient Cities initiative released a series of policy proposals for expanding the National Flood Insurance Program (NFIP), developed in partnership with Enterprise Community Partners and the Georgetown Climate Center. The NFIP faces $24 billion in debt and serious program shortfalls, including outdated floodplain maps and rising insurance rates. Among the policy proposals offered by the 100 Resilient Cities initiative include providing accurate risk-based price signals, funding and incentivizing community flood mitigation programs and maintaining up-to-date flood risk and future conditions data. The 100 Resilient Cities initiative urges mayors and local leaders to use the recommendations to advocate for an improved NFIP that enhances flood resilience and reduces the economic costs of flooding to taxpayers. The House Rules Committee will hold a hearing on the National Flood Insurance Program reauthorization bill (H.R. 2874) today to consider reauthorizing the program, which is set to expire in December.